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Legislative Activity
House Moves CHOICE Act Forward as Senate Banking Committee Discusses Banking Reforms
Last week, the House passed the Financial CHOICE Act of 2017 (CHOICE Act) by a vote of 233-186. The comprehensive deregulatory bill would roll back many of the regulations put in place by the Dodd–Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank). For now, passage of the bill amounts to little more than a messaging exercise from the House GOP,…

Legislative Activity
House Set to Choose Path for CHOICE Act as Senate Holds Hearing on Community Banking
This week, the House is set to vote on H.R. 10, the Financial CHOICE Act of 2017 (CHOICE Act). After a contentious markup in the House Financial Services Committee last month, the bill was favorably voted out of the Committee along party lines, with all 34 Republicans voting in favor and all 26 Democrats voting against. Democrats…

Legislative Activity
Senate Banking to Vote on Treasury and Commerce Nominations This Week
This week, on Tuesday, May 23, the Senate Banking Committee will vote on the nominations of several individuals to fill key posts within the Treasury and Commerce Departments (see below for additional details). Last week, Senate Banking Democrats concentrated on potential Trump Administration ties to Russia during the confirmation hearing of the nominees, who – if confirmed – would assume positions related…

Legislative Activity
Senate Banking to Host Secretary Mnuchin, Focus on Treasury
This week, the Senate Banking Committee will consider the nominations of several individuals to fill key posts within the Treasury and Commerce Departments (see below for additional details). The Committee will also host Treasury Secretary Steven Mnuchin to discuss an array of domestic and international policy issues.
The busy week for the Committee comes after last week’s hearing on housing finance reform featuring Federal…

Legislative Activity
House Financial Services Committee to Hold Markup of CHOICE Act on Tuesday
After much anticipation, House Financial Services Committee Jeb Hensarling (R-TX) introduced the Financial CHOICE Act of 2017 (CHOICE Act) last week following a contentious hearing on the bill. Unsurprisingly, the hearing revealed partisan differences over the effectiveness of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) and the benefits of reforms proposed in the CHOICE Act. Republican lawmakers highlighted…

After nearly 100 days in office, the Trump Administration and Republicans in Congress appear poised to have a significant impact on the restructuring industry. Although it is too early to tell exactly what the future holds in the Trump Era – even the so-called “Trump Bump” in the stock market appears to be pulling back – events taking place in Washington warrant close attention. On Capitol Hill, Republican efforts to enact a game-changing comprehensive tax…

Legislative Activity
House Financial Services Committee Chooses CHOICE Act as President Trump Signs Financial Services Executive Orders
After a two-week recess, the House Financial Services Committee is wasting no time getting back to work as it plans to hold a hearing on the Financial CHOICE Act this Wednesday. The bill, an acronym standing for Creating Hope and Opportunity for Investors, Consumers and Entrepreneurs, is set to be re-introduced soon by House Financial Services Committee Chairman…

Legislative Activity
Senate Banking, House Financial Services Committees Set Sights on Financial Services Regulatory Reform
With the first 100 days of the Trump Administration largely behind them, financial services lawmakers are beginning to move forward with their review of and efforts to reform the financial services sector. During the Senate Banking Committee’s hearing last week, Chairman Mike Crapo (R-ID) indicated that the Committee’s proposals for financial services regulatory reform and housing finance reform are likely to…

Legislative Activity
Lawmakers Moving Forward with Financial Services Reforms
House Financial Services Chairman Jeb Hensarling (R-TX) has indicated that he plans to reintroduce his replacement for the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) – the CHOICE Act – but in various bills to give at least some provisions a greater likelihood of being enacted. Chairman Hensarling also noted that he plans to work closely with Senate Banking Chairman Mike Crapo (R-ID) throughout the process. Relatedly,…

Legislative Activity
Senate Committees to Consider Labor, SEC Nominations This Week; House Has Full Slate of Hearings After Examining Flood Insurance and the Fed Last Week
This week, two Senate committees will consider the nominations of President Trump’s picks to lead the Department of Labor (DOL) and the Securities and Exchange Commission (SEC). On Wednesday, the Senate Health, Education, Labor, and Pensions Committee has scheduled a hearing to consider the nomination of Alex Acosta to…